UM00-01: Social Security and Retirement Behavior Within the Family: Economic Estimate of a Structural Model Using HRS Employer Provided Pension Data and Social Security Earnings Records

This paper further extends our efforts to understand how household decision-making works and the relation of decisions made within the household to incentives from Social Security and pensions. A structural model of family retirement decision making is es

UM00-02: Saving for Retirement: Implications of Household Bargaining for Social Security and Tax Reform

Traditional economic models treat the household as a single individual, and do not allow for separate preferences of and possible conflicts of interest between husbands and wives. Since wives are typically younger than their husbands and life expectancy for women…

UM00-03: Stochastic Modeling of the Dynamics of OASDI: Characteristics of Cohort Experience, and Aspects of Risk

In this study, we compute distributions of rates of return by cohort for the Social Security retirement system, using a combination of historical data and stochastic forecasts of productivity and mortality rates. Since our forecasts of productivity and mortality are…

UM00-04: Implications of Cognitive and Physical Impairment for Management of Financial Resources Including Individual Accounts

This study utilizes a large set of subjective probability questions from the Health and Retirement Survey to construct an index measuring the precision of probabilistic beliefs (PPB) and relates this index to household choices about the riskiness of their portfolios…

UM00-05: Mortality Risk and Early Retirement

The leading theory used to understand retirement decisions is the life cycle model, which suggests that people save during their working years, when their income is high, so that they will have money to spend during their retirement, when their…

UM00-06: Applications, Denials and Appeals for Social Security Disability Insurance

Abstract for first paper: In order to understand whom among the non-disabled older population experiences a health problem later in life and applies for Social Security Disability Insurance, it is necessary to investigate patterns of coverage and reasons for non-coverage.…

UM00-08: Imperfect Knowledge, Retirement and Savings

Using data from the Health and Retirement Study, this paper measures knowledge about future social security and pension benefits by comparing respondent reports of their expected benefits with benefits calculated from social security earnings records and employer provided descriptions of…

UM00-09: Families, Markets and Social Insurance

We have found modest effects of widowhood events on loss of health insurance. There are also modest effects of widowhood on labor supply, which we have not as yet attempted to attribute to insurance demand. Even new widowhood events, however,…

UM00-10: The Role of Social Security Transfer Programs in Protecting Older People Transitioning into Retirement and Widowhood: A Cross-National Perspective

Work in the marketplace is the primary source of income for most households in modern industrial societies. A permanent or even a long-term exit from work by a household’s principal earner is therefore a potentially risky event. Most countries now…

UM00-11: Modeling the Macroeconomic Implications of Social Security Reform

Two models dominate the economics literature on why people save (and hence on why they accumulate wealth). In one, the life–cycle model, people save when they are young in order to have funds to support their retirement. In the other,…